Texas 2025 - 89th Regular

Texas House Bill HB2575

Filed

2/7/25

Out of House Committee

Voted on by House

Out of Senate Committee

Voted on by Senate

Governor Action

Bill Becomes Law

Caption

Relating to the elimination of certain tax proceeds deposited to and the allocation of the horse industry escrowed purse account.

Impact

The proposed changes outlined in HB 2575 could significantly affect the financial landscape of the horse industry. By relocating or reallocating tax proceeds, the bill may modify how funds are used in promoting horse racing and related activities. This could influence revenue generation and financial stability for the industry, potentially impacting job creation and overall economic activity within this sector. Understanding the implications of such redistributions will be essential for stakeholders involved in the horse industry, including owners, trainers, and breeders.

Summary

House Bill 2575 pertains to the management of certain tax proceeds related to the horse industry, specifically focusing on the elimination of certain tax proceeds deposited into the horse industry escrowed purse account. This bill seeks to streamline financial allocations and potentially enhance efficiency within the horse racing sector. By addressing these tax proceeds, the bill aims to correct any discrepancies or inefficiencies in how funds are currently being deposited and allocated, ensuring that they are utilized effectively to benefit the horse industry and associated stakeholders.

Contention

Points of contention surrounding HB 2575 may arise from different perspectives within the horse industry regarding how these changes will impact various stakeholders. Some may argue that eliminating certain tax provisions could reduce available funding for critical programs or initiatives, whereas supporters might contend that such measures are necessary for improving the management of public funds. This debate will likely focus on balancing the need for fiscal efficiency with maintaining adequate support for the horse industry.

Texas Constitutional Statutes Affected

Occupations Code

Chapter 2028. Pari-mutuel Pools, Purses, And Fees
- Section: 202
- Section: 203
- Section: 204
- Section: 205

Tax Code

Chapter 151. Limited Sales, Excise, And Use Tax
- Section: New Section

Latest TX HB2575 Activity

View All Events: TX 2025 - 89th Regular HB2575

Companion Bills

No companion bills found.

Previously Filed As

TX HB2550

Relating to the elimination of certain tax proceeds deposited to and the allocation of the horse industry escrowed purse account.

TX HB4115

Relating to eligibility for membership on and the regulation of horse racing by the Texas Racing Commission and a prohibition on the conduct of greyhound or other dog racing as live events in this state; creating a criminal offense; authorizing a fee.

TX HB4100

Relating to the regulation of wagering through telephone, the Internet, or other approved electronic means on horse races and greyhound races under the pari-mutuel system of wagering; requiring a license to operate account wagering; requiring a fee.

TX HB2843

Relating to the authorization, licensing, and regulation of casino gaming and sports wagering in this state, to the creation, powers, and duties of the Texas Gaming Commission, to the support of the horse racing industry and reform of horse racing and greyhound racing, and to other provisions related to gambling; imposing and authorizing administrative and civil penalties; imposing taxes; imposing and authorizing fees; requiring occupational licenses; creating criminal offenses.

TX HJR97

Proposing a constitutional amendment to foster economic development and job growth, provide tax relief and funding for education and public safety programs, and reform and support the horse racing industry by authorizing casino gaming at destination resorts, creating the Texas Gaming Commission, authorizing sports wagering, requiring a license to conduct casino gaming, and requiring the imposition of a gaming and sports wagering tax and license application fees.

TX HJR155

Proposing a constitutional amendment to foster economic development and job growth, provide tax relief and funding for education and public safety programs, support the horse racing industry, and reform horse racing and greyhound racing by authorizing casino gaming at destination resorts, authorizing sports wagering, authorizing Tribal-State compacts with federally recognized Indian tribes, and creating the Texas Gaming Commission to regulate casino gaming and sports wagering; requiring a license to conduct casino gaming; and requiring the imposition of a casino gaming tax, sports wagering tax, and license application fees.

TX SB377

Relating to the Texas Connectivity Fund and to the allocation and the use of certain proceeds from the imposition of state sales and use taxes on telecommunications services.

TX HB1942

Relating to the regulation of sports wagering; requiring occupational permits; authorizing fees; imposing a tax; decriminalizing wagering on certain sports events; creating criminal offenses; providing administrative penalties.

TX SB715

TX SJR17

Proposing a constitutional amendment to foster economic development and job growth and to provide tax relief and funding for education and public safety by creating the Texas Gaming Commission, authorizing and regulating casino gaming at a limited number of destination resorts and facilities licensed by the commission, authorizing sports wagering, requiring occupational licenses to conduct casino gaming, and requiring the imposition of a tax.